Barclay Hedge Fund Index

The Barclay Hedge Fund
Index is a measure of the average return of all hedge funds
(excepting Funds of Funds) in the Barclay database.
The index is simply the arithmetic average of the net returns
of all the funds that have reported that month.

The Barclay Hedge Fund Index is recalculated and
updated real-time on this page as soon as the monthly returns
for the underlying funds are recorded. Only funds that provide us with net returns are included in the index calculation. The number of funds
that are currently included in the calculations for the most
recent months can be found in the footnotes below. Please note
that the calculation for the number of funds is time-stamped
and that the number of funds will continue to increase until
all funds categorized within the sector have reported monthly
returns.

2018

2017

2016

2015

2014

Jan

2.07%§

1.34%

-2.99%

-0.10%

-0.41%

Feb

-1.47%†

1.11%

-0.35%

2.20%

1.87%

Mar

-

0.51%

2.45%

0.42%

-0.07%

Apr

-

0.59%

1.03%

1.08%

-0.20%

May

-

0.34%

0.62%

0.81%

1.11%

Jun

-

0.37%

-0.04%

-1.09%

1.38%

Jul

-

1.08%

2.04%

-0.55%

-0.58%

Aug

-

0.63%

0.73%

-2.50%

1.16%

Sep

-

1.03%

0.89%

-1.69%

-1.26%

Oct

-

1.08%

-0.31%

2.22%

-0.29%

Nov

-

0.64%

0.82%

0.22%

0.60%

Dec

-

1.15%

1.14%

-0.86%

-0.42%

YTD

0.57%*

10.36%

6.10%

0.04%

2.88%

†Estimated performance for February 2018 calculated with reported data from 2413 funds.

§Estimated performance for January 2018 calculated with reported data from 3135 funds.

*All estimates and 2018 YTD amounts are calculated with reported data as of March-19-2018 21:22 US CST.

Past performance is not necessarily indicative of future trading results. The funds represent speculative investments and involve a high degree of risk. An investor could lose all or a substantial portion of his or her investment.